Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CEO Sells 351,306 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 351,306 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $207,658,649.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Andrew Houston also recently made the following trade(s):

• On Thursday, September 26th, Andrew Houston sold 28,012 shares of Dropbox stock. The stock was sold at an average price of $25.01, for a total transaction of $700,580.12.
• On Tuesday, September 24th, Andrew Houston sold 66,064 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total transaction of $1,651,600.00.
• On Thursday, September 19th, Andrew Houston sold 3,493 shares of Dropbox stock. The shares were sold at an average price of $25.00, for a total transaction of $87,325.00.

Dropbox Trading Up 1.6 %

DBX stock traded up $0.41 during trading on Thursday, hitting $25.53. 2,196,314 shares of the stock traded hands, compared to its average volume of 3,840,240. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 1.55 and a beta of 0.61. The company has a 50 day simple moving average of $23.87 and a 200 day simple moving average of $23.29.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The firm had revenue of $634.50 million during the quarter, compared to the consensus estimate of $630.10 million. During the same period last year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts predict that Dropbox, Inc. will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on DBX shares. UBS Group decreased their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Citigroup decreased their target price on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $28.67.

Hedge Funds Weigh In On Dropbox

Institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC bought a new position in shares of Dropbox in the first quarter worth about $28,000. GAMMA Investing LLC raised its stake in shares of Dropbox by 274.0% during the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after buying an additional 907 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after buying an additional 1,169 shares during the last quarter. Quarry LP raised its stake in shares of Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after buying an additional 880 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Dropbox during the first quarter valued at approximately $65,000. 94.84% of the stock is owned by institutional investors.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.